Cape Town – Minister in the Presidency, Khumbudzo Ntshavheni, has reaffirmed the government’s position that there is no mass exodus of investors from the country.
The minister said this while addressing attendees during the Presidential District Development Model (DDM) Imbizo, which took place in Kuruman, Northern Cape, on Thursday.
“There are no investors that are leaving the country in droves. You are dealing with commercial transactions which companies look at. One company comes out, another one comes in.
“[There was] a story that VW was leaving South Africa. VW just reinvested R4 billion preparing for a new line of auto-manufacturing vehicles that are coming in 2027 to 2029. So, it’s commercial transactions that happen globally. Every business looks at their own opportunities and says what’s in their own interest and it doesn’t mean it’s a reflection on the investor confidence in the country,” Ntshavheni said.
She highlighted ongoing investments, such as the Boegoebaai green hydrogen project, as evidence of sustained investor confidence.
“I could churn out the numbers that are invested. The President has mentioned Boegoebaai. There are international investors that have partnered with us on Boegoebaai and there are South African companies themselves.
“What’s important is when your own businesses invest in your own country – that’s most significant than anything else because it shows the international community that we have confidence,” she said.
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Compiled by Betha Madhomu
